The new GreenTech fund is earmarked for startups looking to use tech in addressing climate change issues
Simmons & Simmons has announced a green initiative in which it will offer £100,000 worth of legal advice to startups looking to apply tech to solutions addressing climate change.
The firm’s new GreenTech fund is being helmed by members of Simmons & Simmons’ green room, its environmental sustainability network. The firm will be working together with sustainability-focused investors, accelerators and incubators like Techstars, Entrepreneur First and Illuminate Financial.
The fund will be allocated to four businesses presenting innovations that aim to mitigate the worst impacts of climate and biodiversity issues.
“In common with many organisations, Simmons is looking for ways to maximise its positive impact, and the GreenTech fund is an attempt to achieve that by sharing our skills with businesses that are actively seeking solutions to the crisis in which we find ourselves – we will need multiple solutions and we firmly believe that collaboration is our best hope,” green room co-lead Ali Crosthwaite said.
Simmons & Simmons described the GreenTech fund as “an evolution” of its 2016 FinTech fund, which was geared towards helping early stage fintech organisations with common legal concerns.
“We are seeing early-stage climate and sustainability technology companies starting to catalyse real change,” Illuminate Financial partner Rezso Szabo said. “As a VC fund backing several of such startups, we are delighted to be collaborating with Simmons on the GreenTech Fund initiative, aiming to support businesses in this critical space.”
Simmons & Simmons has opened the window for applications to the GreenTech fund until 31 December. The firm has requested applicants to provide video entries.
